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Correlation between the euro and gold

Correlation between the euro and gold | 08 Julio 2020

08 Julio 2020, EUR/USD

EURUSD trading plan:

We are expecting an uptrend to develop. In an interview with the Financial Times, published Wednesday, ECB President Christine Lagarde signaled the central bank may keep policy unchanged for some time after it almost doubled the size of its pandemic purchase program to 1.35 trillion euro ($1.52 trillion) last month. “We have done so much that we have quite a bit of time to assess carefully,” Lagarde said. This is a positive signal for the European currency. A bullish rally in the precious metals market will provide additional support for the euro.

Trading recommendation: Buy 1.1275 and take profit 1.1340.

David Johnson
Analyst of «FreshForex» company
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